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LME Copper: Higher Range To Attract Profit Booking

7 Aug 2017 2:41 pm
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Report For Date 07/08/2017

LME Copper - (Price figures in $/Ton)


Expect the resistance of 6448 to be tested.

Higher range for the week can be 6343-6383.

Profit booking pressure for near term can be witnessed at higher range till 6448 is not crossed on closing.




WEEK LEVELS FOR LME COPPER

STRATEGY

CLOSE

DRV

TREND

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Profit Booking

6330.00

5747.54

UP

4787

28.10

6263

6303

6317

6343

6383






Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.


Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.


       
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